Elon Musk has lost his trillionaire status for the second time in a month after a sharp drop in SpaceX and Tesla shares wiped $36.4 billion off his estimated fortune in a single trading session.

According to Forbes, Musk’s net worth fell to $991.6 billion on Thursday, October 8, slipping below the $1 trillion mark just three days after he regained the milestone.

SpaceX shares dropped around 3.5% amid investor concerns over reports that the company plans to raise $40 billion to purchase Nvidia chips. Tesla shares also fell more than 2%, adding to the decline in Musk’s wealth.

Musk first crossed the trillion-dollar threshold in June after SpaceX went public, briefly reaching an estimated fortune of $1.45 trillion. However, falling share prices have since caused significant fluctuations in his net worth.

The latest decline came amid a broader sell-off in technology stocks. Nvidia CEO Jensen Huang lost an estimated $6.1 billion, bringing his net worth to $199.3 billion, while Oracle co-founder Larry Ellison lost $8.9 billion, reducing his fortune to $176.8 billion, according to Forbes.

The Nasdaq 100 fell 1.4% on Thursday, marking its worst single-day decline in seven weeks, while the S&P 500 dropped 0.5%.

Despite slipping below the trillion-dollar mark again, Musk remains the world’s richest person, with his estimated fortune continuing to fluctuate alongside the market performance of his companies.


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